MobGold, a China-based mobile advertising marketplace, has received $12m in a series B round of financing led by venture capital firm Fast Global Investments.
The new capital will enable the company to develop its products and solidify its position as a market leader at a global level. MobGold, which allows publishers, network operators, web portals and mobile phone retailers to monetize their mobile traffic, as well as advertisers to market their products and services in different mobile platforms, has to date expanded into US, UK, Spain, South Africa, India, Indonesia and Thailand.
Commenting on the investment, Qimie, vice president and investment director of Fast Global Investments, said: “Our strategic partnership with MobGold is an important addition to Fast Global Investments’ mobile entertainment initiatives.
“We are excited about this company’s prospects and are delighted to help support the global expansion of an established industry leader that has a proven ability to develop cutting-edge mobile advertisement platform and establish strong distribution partnerships”, he added.